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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net loss $ (71,770) $ (30,871)
Adjustments to reconcile net loss to cash used in operating activities:    
Non-cash research and development license expense   4,448
Stock-based compensation expense 5,916 2,474
Depreciation and amortization 452 122
Non-cash rent expense 253 (40)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (4,048) (833)
Accounts payable, accrued expenses and other current liabilities 12,273 569
Net cash used in operating activities (56,924) (24,131)
Investing activities    
Purchases of short-term investments (69,875) (20,409)
Maturities of short-term investments 142,687 57,463
Purchases of property and equipment (3,126) (10)
Net cash provided by investing activities 69,686 37,044
Financing activities    
Net proceeds from issuance of common stock   163,034
Proceeds from the exercise of stock options 519 326
Proceeds from issuance of common stock from ESPP 295  
Net cash provided by financing activities 814 163,360
Net increase in cash, cash equivalents and restricted cash 13,576 176,273
Cash, cash equivalents and restricted cash at beginning of period 49,943 34,461
Cash, cash equivalents and restricted cash at end of period $ 63,519 $ 210,734